In the long run, if the firm decides to keep output at its initial level, what will it likely do? Stay on SRATC3 but decrease to the point touching LRATC Shift to operate on SRATC4 Shut down Shift to operate on SRATC2 True or False: The minimum efficient scale is achieved at the minimum point on each average total cost curve. False True

Water in a partially filled large tank is to be supplied to the roof top, which is 8 m above the water level in the tank, through a 2.2-cm-internal-diameter pipe by maintaining a constant air pressure of 300 kpa (gage) in the tank. if the head loss in the piping is 2 m of water, determine the discharge rate of the supply of water to the roof top in liters per second.